Manhattan Associates, Inc. (NASDAQ:MANH) Given Average Recommendation of “Hold” by Brokerages
Manhattan Associates, Inc. (NASDAQ:MANH) has been given a consensus recommendation of “Hold” by the six research firms that are currently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $60.00.
A number of research firms have issued reports on MANH. SunTrust Banks, Inc. began coverage on shares of Manhattan Associates in a report on Monday, June 26th. They set a “hold” rating and a $45.00 price objective on the stock. Zacks Investment Research downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. BidaskClub raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Finally, Benchmark Co. downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Friday, April 21st.
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Shares of Manhattan Associates (NASDAQ:MANH) traded down 9.02% during mid-day trading on Friday, hitting $43.15. 3,487,103 shares of the stock were exchanged. Manhattan Associates has a 12-month low of $42.50 and a 12-month high of $62.14. The stock has a market capitalization of $3.00 billion, a P/E ratio of 24.77 and a beta of 1.18. The stock’s 50 day moving average price is $47.11 and its 200-day moving average price is $48.71.
Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Thursday, July 20th. The software maker reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.02. The firm had revenue of $154.10 million for the quarter, compared to the consensus estimate of $153.80 million. Manhattan Associates had a net margin of 20.89% and a return on equity of 73.76%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 EPS. On average, equities research analysts expect that Manhattan Associates will post $1.90 EPS for the current fiscal year.
Manhattan Associates announced that its board has approved a share buyback program on Thursday, April 20th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its stake in Manhattan Associates by 20.9% in the first quarter. Acrospire Investment Management LLC now owns 2,177 shares of the software maker’s stock worth $113,000 after buying an additional 377 shares during the last quarter. Lloyds Banking Group plc acquired a new stake in Manhattan Associates during the first quarter worth approximately $126,000. Pennsylvania Trust Co acquired a new stake in Manhattan Associates during the first quarter worth approximately $220,000. Investment Centers of America Inc. acquired a new stake in Manhattan Associates during the first quarter worth approximately $222,000. Finally, M&T Bank Corp acquired a new stake in Manhattan Associates during the first quarter worth approximately $225,000.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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